Romano Brothers AND Company Increases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Romano Brothers AND Company raised its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,607 shares of the utilities provider’s stock after buying an additional 154 shares during the period. Romano Brothers AND Company’s holdings in WEC Energy Group were worth $924,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WEC. Wellington Management Group LLP purchased a new stake in WEC Energy Group during the 4th quarter worth about $2,639,000. Kingswood Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter valued at approximately $487,000. Future Financial Wealth Managment LLC purchased a new position in WEC Energy Group in the first quarter worth approximately $72,000. Wealth Enhancement Advisory Services LLC grew its holdings in WEC Energy Group by 11.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,650 shares of the utilities provider’s stock worth $12,125,000 after acquiring an additional 15,546 shares in the last quarter. Finally, Thrive Wealth Management LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $263,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. KeyCorp boosted their target price on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday. BMO Capital Markets increased their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Scotiabank raised their target price on WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price target on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $94.45.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at approximately $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $98.81 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The firm has a 50-day simple moving average of $94.78 and a 200-day simple moving average of $86.43. The company has a market capitalization of $31.23 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.54 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s payout ratio is 77.14%.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.